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IMMU.US
id: 350
The settlement funds have been distributed to claimants.
$4,000,000
Cash SettlementD. New Jersey
Court05/02/2016
Class period Start06/24/2016
Class period End12/06/2022
Claim deadlineSensung Tsai, et al. v. Immunomedics, Inc., et al.
Immunomedics (IMMU) agreed to pay $4 million to settle a securities class action lawsuit.
The Complaint alleged that the Company and its Leaders made false and/or misleading statements and/or failed to disclose that:
- the abstract for IMMU-132 that Immunomedics submitted to the American Society of Clinical Oncology (“ASCO”) for presentation at the 2016 ASCO Annual Meeting contained previously disclosed results from a mid-stage study;
- Immunomedics had misrepresented to ASCO that its abstract for IMMU-132 contained only updated and previously undisclosed data;
- the foregoing misrepresentation was a violation of ASCO policy and made Immunomedics’ IMMU-132 presentation subject to removal from the 2016 ASCO Annual Meeting schedule.
Immunomedics (IMMU) agreed to settle with investors to avoid further litigation.
Case Status
Disbursed
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Plaintiffs
Sensung Tsai
Attorneys
Hagens Berman Sobol Shapiro LLP (Berkeley, CA) Lite DePalma Greenberg, LLC (Newark, NJ)
Judge
Hon. Katharine S. Hayden
Administrator
Strategic Claims Services
Court hearing date
01/19/2023
Exclusion deadline
12/29/2022
Objection deadline
12/20/2022
Trades matching type
FIFO
Disbursement date
06/27/2024
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